Creditcane™: My plane was hijacked and ruined my surprise visit to the exchanges.

SPXBullish long day. Midpoint above EMA(10). Tested and held SMA(144). Tested and held the 38.2% retrace (1241.13). No daily 3LB changes (reversal is 1264.31). QE2infinity. Still above weekly 3LB mid and back above the monthly 3LB mid.

VIXBearish long day. Midpoint below EMA(10). Tested and failed SMA(144). Now failing its 50.0% retrace (29.84). No daily 3LB changes (reversal is 48.00). The grip of the "fear" zone has been eliminated.

GOLDSpinning top day. Midpoint below EMA(10). Tested and failed its 38.2% retrace (1718.10). Tested and held SMA(55). No daily 3LB changes (reversal is 1643.50). Must have the precious.

EURUSDSpinning top day. Midpoint below EMA(10). Still failing all SMA's. Tested and held its 100.0% retrace (1.3350). No daily 3LB changes (reversal is 1.3511).

DD held its 38.2% retrace this week. It also held its weekly 3LB mid. Yes, it's an engulfing candle but we're not in an uptrend (mostly sideways). Doesn't appear ready to go down just yet but the wedge may force a decision soon.

These last two weeks have not made any progress in stopping the downtrend. The small body candles indicate that there is no resolve by the bulls to push NFLX higher. It's below all SMA's. It's below the 61.8% minor retrace which was the last support before testing the 100.0% retrace.

Where did this move in SODA come from? It is confirming the bullish harami pattern on the weekly chart. It's back above SMA(13). It has moved enough to cause a weekly 3LB reversal up (1 more day but it should hold). It had enough of testing the 100.0% retrace and is moving away in a hurry.

After four weeks of sideways trading Tesla drops quickly. An analyst dropped the price target from $70 to $44 and cut it from overweight to underweight. Unlike GM has there been any reported fires due to battery design? It's still above all SMA's. It's only testing the weekly 3LB mid. It's still above the 38.2% retrace.

The EUFN (MSCI EU Financials) made a decent move last week (rumors) but didn't close above the weekly 3LB mid. It's trying to hold the mid this week. It tested and is failing the 61.8% minor retrace. It made it above SMA(13) but hasn't touched SMA(21). Swimming against the current.

Disclosure/Warning

This blog should not be interpreted as investment advice of any kind.The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind.The authors may or may not trade in the markets discussed.The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.

Fictional Character Quote of the Day:

I guess it comes down to a simple choice. Get busy living or get busy dying.

- Andy Dufresne

"The Shawshank Redemption"

About this Blog

This Blog's primary focus is on trading based upon technical analysis. It is run by "AmenRa" and "AndyT," quasi-anonymous traders who employ technical analysis to assess market conditions and trading opportunities. AmenRa utilizes 3LB techniques, Moving Averages and Fibonacci sequences. AndyT's analysis relies primarily on "Wave Theory" and Fibonacci sequences. The Comments Section is uncensored and open to the public. Please try and adhere to the "Blogger Policy."